Apple set to launch next iPhone on September 9

Apple is scheduled to unveil its latest iPhone series at a launch event on September 9. The company is rumored to introduce a foldable iPhone, a significant development that could drive higher selling prices and margins for Apple. This event will also mark John Ternus's first major keynote as the new CEO, succeeding Tim Cook who will become Apple's executive chairman.

Ternus, who joined Apple in April, is a long-time hardware expert. Samsung currently leads the foldable smartphone market, but analysts believe the category could become mainstream as demand rises despite high prices. Apple has raised prices on its Mac and iPad products to counteract rising chip costs. However, supply chain shortages are expected to hurt sales this quarter.

Analysts predict Apple could sell over 17 million foldable iPhones by 2027, with IDC forecasting a 12.6% increase in foldable phone shipments this year. The foldable iPhone's size is anticipated to be comparable to an iPad mini. According to research firm IDC, foldable phone shipments are expected to rise by 16.7% this year, while overall smartphone sales are projected to decline by 16.7%.

During its last launch, Apple introduced a slimmer iPhone Air and upgraded several features in its iPhone 17 lineup, which boosted consumer upgrades.